Effective Stock Trading » resistance http://www.effectivestocktrading.com Stock Trading Tips, Techniques, and Reviews To Help You Become A Better Stock Trader Thu, 25 Mar 2010 16:32:34 +0000 en hourly 1 http://wordpress.org/?v=3.3.1 DOW Tests The Yearly Lows Once Again http://www.effectivestocktrading.com/dow-tests-the-yearly-lows-once-again/ http://www.effectivestocktrading.com/dow-tests-the-yearly-lows-once-again/#comments Sun, 22 Jun 2008 19:52:54 +0000 Tony http://www.effectivestocktrading.com/dow-tests-the-yearly-lows-once-again/ In my last entry I stated that the DOW was closer to the yearly lows than the yearly highs. I also stated that I wasn’t going to predict if the DOW would test the yearly lows. That was on June 13, 2008 and the DOW closed at 12307.40 On Friday, June 20, 2008 the DOW fell over 220 points to close at 11842.69.

Well it appears that we are back on the lows again for the third time this year.

The DOW has not traveled outside of the range established in the first month of the year. Support and resistance traders won’t find much support slightly below these current levels.

I’m not going to make a prediction of a potential freefall here, but there really isn’t much support below where we are now.

]]> http://www.effectivestocktrading.com/dow-tests-the-yearly-lows-once-again/feed/ 0 DOW Tests The 12,800 Level and Falls Off From There http://www.effectivestocktrading.com/dow-tests-the-12800-level-and-falls-off-from-there/ http://www.effectivestocktrading.com/dow-tests-the-12800-level-and-falls-off-from-there/#comments Fri, 13 Jun 2008 21:20:53 +0000 Tony http://www.effectivestocktrading.com/dow-tests-the-12800-level-and-falls-off-from-there/

The 12,800 level on the DOW has held as resistance for most of this year. For the first time since January the DOW closed above 12,800 on 4/18/2008.

After that a small rally ensued that drove the DOW to just beyond the 13,000 mark. At that point the DOW was faced with bumping up against the yearly highs. The highs were tested on several occasions. After the high on 5/19/2008 the DOW has started to move back down towards the yearly lows.

At this time the DOW is just about in the middle of the year’s trading range. In fact the DOW is sitting comfortably in an area of some price congestion.

We are closer to the yearly lows than we are the yearly highs. I’m not going to predict that we will test the lows soon so we will just have to wait and see.

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